Loan Application Checklist
In general, the documentation you will need includes:
Check or credit card for application fee
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Property Information (if you already have a contract on a house)
Purchase Agreement.
If you are selling your current home, copy of listing contract.
If you have sold your current home, copy of settlement statement (HUD-1).
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Income & Assets
Pay stubs for the last 30 days for the past 30 days:
Names and addresses of each employer.
W-2s for most recent 2 years
Statements for each bank (ALL PAGES), mutual fund, and/or investment account for the last three months.
If you have made any large deposits to your accounts, explanation and source for deposit.
If large deposit was a gift:
Copy of gift check.
Copy of deposit receipt.
If you own more than 25% of a business:
Corporate or partnership tax returns.
Tax returns for the last two years (with schedules).
Year-to-Date Profit and Loss Statement prepared by an accountant.
If you own rental property:
Tax returns for the last two years and current rental agreements.
If you are retired:
Pension Award Letter.
If you receive Social Security:
Social Security Award Letter.
If you are counting child support as income:
Copy of divorce settlement.
Copy of twelve months of cancelled child support checks.
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Debts
Names, addresses, account numbers, balances and monthly payments on all current loans.
Explanation of credit report anomalies, including:
Late payments, credit inquiries in the last 90 days, charge-offs, collections, judgments and/or liens.
Bankruptcy filed within last seven years (bring a copy of your bankruptcy papers).
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VA Loans
Copy of DD Form 214, Report of Separation.
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Miscellaneous
Photo ID and proof of Social Security number.
Residence addresses for the past two years.
If applicable, a copy of your divorce decree.
If you are not a citizen, a copy of the front and back of your green card.
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